David Toms
speaker
276 appearances
2 recordings
1 series
first heard Apr 2022
last heard Oct 2022
David Toms’s voice in public audio — every appearance, attributed to the second.
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Appearances
So we've seen this kind of large-scale consolidation.
But to make a difference for those large companies, their deals have to be quite large.
And then at the other end of the market, we've got all kinds of new companies coming to market with new propositions and almost a fragmentation of the range of opportunities.
I think what we're really seeing is
P
As customers get more and more used to automating processes using software to help things, they just see more and more things you could get the software to help with.
And so it goes from, you know, 50 years ago, all your HR department did in terms of automation was a payroll system.
And there's a very small number of payroll providers in the world.
Those payroll providers have got massively larger, and some of them have hoovered up a lot of other companies on the way, ADP being a great example.
But meanwhile, the sophistication of what an HR department does has grown so massively that I mean if you take our HR department, you know, it's dealing with all kinds of things, not just sort of pay and rations, but also charitable giving and how we manage that.
You know, 20 years ago when I started out working, charitable giving was uh my my employer provided it, but it was a simple payroll deduction to an account and then you had to write a paper charity check.
Now at HG we have this completely automated system where there's thousands or hundreds of thousands of charities around the world, all pre-approved, where you can automatically fire money to them and
there's matching and lots of other processes going on, just things that never existed.
So we're seeing software coming in and almost driving markets that that didn't exist before because it can create opportunities to do things very efficiently.
You wouldn't want to hire 10 people to run a charitable giving program, but if you can put a piece of software in to do it, it's a great employee incentive.
their ability to perform.
Yes.
And it's the creation of new markets by making things so easy.
It's like you know, sort of the classic Uber analysis that shows that the majority of Uber journeys aren't a displacement of a traditional taxi, they're actually displacement of somebody walking.
Because it was just easier to get out the door and walk for half a mile, three quarters of a mile.
Showing 241–260 of 276 · page 13 of 14
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